Comcast Advertising said it made a deal with Comscore that will enable the measurement firm’s clients to use Comcast Advertising’s Signal Authentication product to increase the accuracy of their measurement and attribution calculations.

The agreement builds on the existing data partnership between Comcast and Comscore and comes as advertisers have expressed concerns that signal loss is making cross-platform measurement more difficult.

“Our clients are facing many challenges, especially in understanding the true impact of their advertising due to signal loss and privacy regulations,” Comscore chief commercial officer Steve Bagdasarian said. “We’re excited to expand our longtime partnership with Comcast Advertising to enhance identity resolution capabilities. This will give our clients increased confidence in cross-platform measurement and attribution, helping them create more informed media strategies to reach their most valuable audiences.” 

Comcast Advertising’s Signal Authentication service, announced earlier this year, uses data from 32 million U.S. households in a private-protected manner to understand the reach, frequency and outcomes of campaigns across linear and streaming TV and provide stronger identity resolution for marketers and programmers.

“Signal loss and data quality are greatly impacting the ability for advertisers to understand how they are reaching their target audiences, and how their media campaigns are performing,” Comcast Advertising VP and general manager, data Carmela Fournier said.

“Since Comcast Advertising’s solution is based on deterministic household signals across millions of households, we are able to offer reliable, privacy-forward signal authentication at scale,” Fournier said. “We’re excited to further our partnership with Comscore as they become one of the first measurement companies to tap into this service to provide clients a better understanding of their campaign performance and drive improved business results, while upholding the highest standards of consumer privacy.” 

Comscore had been able to use to Comcast set-top viewing data for audience measurement since the two companies struck a deal in 2020.

Comcast’s ad-sales unit began using Comscore data to sell local ads since 2022.

Comcast also licenses set-top data to Nielsen. Nielsen and Comcast renewed and expanded their relationship last year.

Comscore said it now measures YouTube audiences across all digital devices in the U.S.

The new capability adds data about YouTube viewing on connected TVs to Comscore’s Video Metrix Multi-Platform product, enabling advertisers to better evaluate ad campaigns that incorporate YouTube.

Comscore's expanded YouTube CTV measurement includes a direct integration with YouTube, the company said. 

“Comscore is solving for the convergent shift in cross-platform audiences and continues to lead in digital and video measurement that incorporates person-level insights and deduplicates video audiences across digital,” Comcscore chief commercial officer Steve Bagdasarian said. “Bringing YouTube CTV to Comscore’s Video Metrix Multi-Platform suite will give publishers complete reporting of its reach across all video platforms.” 

Comscore said total YouTube audiences will be available in more countries in 2025, including Argentina, Brazil, Canada, France, Germany, India, Italy, Malaysia, Mexico, Spain and the U.K. 

Looking to conserve cash, Comscore has asked the preferred stockholders who helped refinance the company to put off dividend payments.

The preferred stock was issued in 2021 to Charter Communications, Quarate Retail and Cerberus and enabled the media measurement company to wipe out its $204 million in debt. (Quarate later sold its stock to Liberty and Cerberus.)

The dividends on the preferred stock come to about $15.5 million annually.

During the second quarter of 2024, Comscore had a net loss of $1.05 million, Including $4.2 million in dividend payments, Comscore’s net loss available to common shareholders rose to $5.3 million. 

In a filing with the Securities and Exchange Commision each holder of Comscore’s Series B Convertible Preferred stock waived its right to receive annual dividends payable on June 30. 

They waived the right at Comscore’s request, the filing said.

The deferred dividend will continue to accrue at a rate of 9.5% per year. 

The dividend is now due July 31, 2024.

“The company is working with its Series B holders to resolve the outstanding dividend balance prior to the July 31 deadline,” Comscore said in a statement.

Comscore said it is working with Kochava to provide marketers with information about how linear-TV ad campaigns are impacting consumer behavior online and offline.

The combination of Comscore’s Exact Ratings and Kochava’s marketing mix modeling is designed to provide outcome measurements, such as mobile app installs, website activity, merchant-level purchase data and episodic tune-in.

"Linear television has always been a powerful tool for achieving efficient reach and frequency, yet its impact has been underrepresented in the cross-channel performance equation,” Comscore chief commercial officer Steve Bagdasarian said. “Today, we’re excited to introduce an innovative solution that offers marketers attributable insights into how linear TV ads specifically influence both online and offline outcomes.“  

For one quick-service restaurant, Comscore and Kochava were able to show consumer reaction to commercials that aired during sports programming, showing increases in app installs, registrations and purchases.

“Based on the cross-channel behaviors that we can attribute to linear TV, brand managers can now better allocate and optimize their spend to business outcomes,” Kochava CEO Charles Manning said. “Traditionally, marketers have bought digital media and measured clicks, page visits, or social discussions. Now, they can apply a performance lens to a historically brand- and reach-oriented environment and get real digital signals and real digital outcomes from it.”

Comscore lost money in the first quarter as weak linear ad sales impacted its cross-platform measurement business.

Comscore’s net loss was $5.2 million, or $1.08 a share in the quarter, compared to a loss of $12.5 million, or $2.66 a share, a year ago. 

Revenue dipped 5% to $86.8 million Cross-platform solution revenue was down 9.7% because of lower national TV revenue. 

For the full year 2024, Comscore expects revenue to be between $375 million and $390 million, with an adjusted EBITDA margin of between 12% and 15%.

The company said it anticipates national TV revenue to continue to be impacted by pressure on linear ad spending. Demand for customer digital products will continue to be unpredictable due to the macroeconomic environment.

Comscore expects second quarter revenue to be down from the prior year, but it see revenue growth building in the second half as revenue from its Proximic and CCR products ramp up.

"While revenue came in slightly below our expectations, our teams continued to make encouraging progress against a number of key initiatives that are critical to our transformation," said CEO Jon Carpenter.

"Our adjusted EBITDA performance, and key product and client progress that we've continued to make with our cross-platform offerings, are evidence we're moving in the right direction,” he said. “I remain confident in the direction we're taking the business, and we will continue to leverage Comscore's cross-platform capabilities to deliver value to our stakeholders."

Local television station owners including Gray Television, Sinclair Broadcast Group, Hearst Television, Tegna and the E.W. Scripps Co. have invested in the ATSC 3.0 Framework Authority, whose Run3TV platform can provide detailed data about over-the-air broadcast viewership.

Run3TV also creates apps that provide NextGen-enabled TV sets that give viewers additional features and programming. 

Pearl TV, the organization formed by broadcasters to push adoption of the ATSC 3.0 broadcast standard, said it anticipates more broadcast groups will get involved in the Run3TV venture.

Comscore and Nielsen have been working with Pearl TV on local media measurement since 2018.

“Our investment in Run3TV and ATSC 3.0 is a strategic endeavor for local broadcasters like Gray, bringing additional, measurable value to local stations by providing more choices for our viewers,“ Gray Television CEO Pat LaPlatney said. “Run3TV improves over the air viewership measurement, but it also gives our viewers more options at the touch of a button to engage deeper with their local stations.” 

Financial details of the investment were not disclosed.

"By integrating our applications into the Run3TV platform, we're committed to uniting the industry toward enriching the viewer experience, including offering more interactive services and essential public services like emergency alerts," added Chris Ripley, CEO of Sinclair, which previously had not been part of the Run3TV coalition.  

Also Read: Detroit Stations Launch Start Over, Datacasting To Boost NextGen TV

NextGen TV sets that are hooked up to both an antenna and the internet can opt in to provide stations with viewing information. That information can be used to enhance the local TV measurement services offered by Nielsen and Comscore.

"Our partnership aims to enhance audience measurement precision with big data capabilities for over-the-air, contributing to the industry's growth and innovation,“ Comscore chief information officer Brian Pugh said. “Comscore eagerly anticipates the rollout of Run3TV by broadcasters as it will allow enhanced return path data capabilities increasing the customer satisfaction and value of measurement.”

Paul LeFort, managing director of Nielsen’s local TV business, said: “Nielsen is pleased to evolve our longstanding relationship with Pearl TV as we jointly explore the use of OTA ‘big data’ in our local TV measurement. OTA households have been a critical element of our local TV service for decades, and this latest development around Run3TV is an exciting step in potentially being able to harness the power of OTA broadcasting data sources, which will only enhance our local TV measurement.”

TVB, the broadcast-TV trade organization, said its CEO Steve Lanzano weighed in on the development: “TVB and its members continue to advocate for new solutions that enhance local broadcast television audience measurement. The RUN3TV platform is a critical step in moving our industry forward through its ability to harness the data-rich capabilities of ATSC 3.0 technology to more accurately capture local, over-the-air viewership. TVB is a strong supporter of Pearl TV and their efforts to advance NextGen TV for the benefit of consumers, brand managers and advertisers.”

The U.S. Joint Industry Committee on TV measurement certified Comscore and VideoAmp as ready to be used as currencies when buying or selling national advertising.

The JIC has previously given VideoAmp and Comscore conditional certification as being currency grade.

The certification follows what the JIC calls a rigorous evaluation. During the Data Evaluation phase, JIC members conducted more than 670 tests to ensure the data produced was transactable across specific currency use cases.

The JIC has also published Guidelines for Transactability to give the industry more information on how new currencies can be used.

Last week, Comscore received accreditation from the Media Rating Council for its household level measurement of national and local audiences. 

"Endorsements by both the MRC and the JIC underscores Comscore's adherence to rigorous standards of data integrity and precision. It offers broadcasters, advertisers, and media buyers a robust, validated tool for gauging audience engagement and media consumption," said Steve Bagdasarian, Chief Commercial Officer at Comscore.

"In an age when the planning and optimization of cross-platform campaigns is mission-critical, the JIC's certification of Comscore not only enhances its credibility but also reinforces the trust that industry stakeholders place in its metrics, setting a new benchmark for transparency and accountability in media measurement." Bagdasarian said. 

The MRC and JIC have reached an accord on how JIC certification and MRC accreditation will offer coordinated by different assurances to media buyers and sellers.

Comscore and VideoAmp compete with Nielsen, the long-time leader in TV audience measurement. Nielsen said Tuesday it will make its panel plus big data ratings system its primary currency going into the 2024-25 upfronts.  Nielsen is waiting for accreditation for adding big data to its diary based ratings system. It declined to participate in the JIC’s certification process.

Another Nielsen rival, iSpot, received conditional certification from the JIC last year. It remains conditionally certified, but the JIC says iSpot’s data submission was incomplete as iSpot makes changes to its methodology. A decision on certification is expected to be made in June.

Formed early last year by media seller, the JIC was been able to in short order getting buyers and measurement companies to buy in and define the type of measurement it needs and what it requires of measurement providers at a time when consumer habits are changing and video content is available on a growing number of platforms.

“While the currencies and resulting deal structures are decided solely between buyers and sellers, we cannot drive lasting transformation of the industry individually – we need consensus, compromise, and a shared understanding across all parties to move this industry forward,” said Travis Scoles, senior VP of advanced advertising at Paramount Global and chairman of the U.S. Joint Industry Committee’s board of directors.

“The collaboration over the last year to bring buyers and sellers to the same table to work in partnership with the measurement companies, who have dedicated an incredible amount of time, energy and resources to this process, is a testament to this industry’s dedication to progress as we build a more sustainable measurement ecosystem for the future. We applaud the work of all measurement companies and encourage continued innovation as we scale,” Scoles said.

The JIC said that certification is granted on a two year term. The first term ends December 2025.

A mid-term audit will be conducted to ensure the JIC has transparency on any changes to methodology. The audit will take place in November of each year, with the first cycle being held in November 2024, for any new currency of record data.

Comscore’s system for measuring national and local household-level TV viewing has been accredited by the Media Rating Council.

At a time when measurement companies are scrambling to offer alternatives to Nielsen, which has dominated the TV ratings business, Comscore becomes the first to win what is considered the industry’s Good Housekeeping seal of approval for a methodology that employs big data from set-top boxes and smart TVs to analyze the current more fragmented viewing environment.

Comscore is also the only measurement provider whose local measurement is accredited and the first to be approved in all 210 measured local markets based on device tuning measurement.

Nielsen regained the accreditation for its old national ratings system based on its panel of about 40,000 metered homes. Nielsen’s system for adding big data to its panel data is being reviewed by the MRC. Its local ratings system lost its accreditation and has yet to get it back.

Newer measurement companies iSpot.tv and VideoAmp have engaged the MRC in order to pursue accreditation.

With the TV industry’s annual upfront ad-buying season approaching, accreditation is a feather in Comscore’s cap. 

“We see this as a very big deal.  The MRC continues to be the gold standard for audience measurement,” Comscore CEO Jon Carpenter told Broadcasting+Cable.

In the competition among measurement companies, “this gives us a big leg up,” he said. “To go into the upfront with essentially the only product that's accredited in the marketplace, that's a that's a big deal. It's no longer about one single=source panel solution in the market. There are other choices here, and this one's a pretty darn good credible one.”

Carpenter said Comscore’s methodology is different, building up from ground up at the household level, which gives Comscore a consistency across its local and national ratings.

Comscore’s linear ratings are also the foundation of its cross-platform measurement, which is what clients are looking for now.

“Linear TV is still the most effective vehicle for reach, so any cross-platform product that doesn't include high-quality linear TV data at the scale that Comscore delivers, both nationally and locally, is missing a significant mark.” he said. “And the fact that we've got an accredited product that underpins our cross-platform product in addition to what it does to our traditional TV measurement product I think is incredibly important.”

The accreditation comes at a time when the MRC is busier than its ever been, with new competitors to Nielsen using  big data, more digital players looking for validation and retail media networks looking to use their first-party data to sell advertising, said MRC CEO George Ivie.

“We think this is a major milestone for Comscore, and its opens the door for in the future even more accreditations from them,” Ivie said.

With the accreditation, “If you're a user of Comscore you now can have confidence that Comscore reports to you things like standard errors sampling and non-sampling error, The KPIs are calculated accurately.” 

The MRC will be auditing Comscore annually.  “To be accredited means you're making a long-term commitment to transparency and validation.”

For a time after the pandemic, there was no accredited TV audience measurement service

“This is the definitely  the longest we've ever been without a local accredited service and this comscore announcement will begin to fill that void,” Ivie said. “I think it'll create momentum like for the need to be accredited.”

The changes in the way viewers consume TV means new measurement methods are required, especially with advertisers looking to reach more specific target audiences.

“It's generally becoming known that a panel standing alone is not really sufficient to measure some of these nuanced audiences,” Ivie said.  

“Then you have the other all currency vendors that are stepping forward that all of them are leveraging larger data sets, he said.

According to Ivie, iSpot has requested a proposal from the MRC to to audit its audience measurement product. iSpot should have that proposal soon.

VideoAmp is in a pre evaluation process, in which the MRC’s CPA’s walk through VideoAmp’s methodology to flag any big methodological gaps that might keep it from easily achieving accreditation, Ivie said. The CPA’s report should be sent by the end of the month.

Meanwhile Nielsen is addressing some of the MRC’s audit findings regarding its big-data methodology. “We're going to be making decisions on the accreditation probably in a couple of months time,” Ivie said.

Nielsen CEO Karthik Rao congratulated rival Comscore on getting the MRC’s blessing. 

“The more accredited data there is in the marketplace the better it is for everyone—buyers, sellers, viewers and all of us devoted to the science of audience measurement,” Rao said in a LinkedIn post. 

After the SEC found irregularities in its books, Comscore was hamstrung by a long-running re-auditing process. It was recapitalized and has been trying to rebuild since Carpenter joined the company in 2021. .

“What you've seen from this team that's been in place now for the last 18 months is a commitment to deliver and we've already out of the gate had some very big announcements,” he said, noting big deals with Nexstar Media Group, Tegna and The Trade Desk.

“This is a nice win here at a point in time, but there's still plenty of wood to chop,” Carpenter said. “Our goal is to continue to deliver for our clients and that means continuing to provide solutions that deliver cross-platform capability that's unmatched.”

Accreditation is a rigorous process that includes an independent audit conducted by a CPA firm engaged by the MRC, and a review of the audit report by a committee comprised of MRC member organization representatives.

MRC accreditation signifies that Comscore’s methodologies and processes meet the organization’s industry established standards, designed to ensure transparency and accountability in measurement.

“We spent thousands of hours at Comscore. And in fact we have audited Comscore more than once for them to achieve this accreditation over a period of years,” said Ivie. “This has been a very rigorous demanding process. They're really to be congratulated for what they have done.”

The Media Rating Council is a non-profit industry association established in 1963/ Its goal is to ensure measurement services are valid, reliable and effective.

Comscore’s fourth-quarter loss widened as it took a charge related to goodwill and as revenue declined.

The fourth-quarter loss was $32.7 million, or $6.69 a share, compared to a loss of $3.8 million or 80 cents a share, a year ago. 

The results include a $34.1 million non-cash impairment charge related to goodwill and $4.3 million in dividends paid to convertible redeemable preferred stockholders, the company said.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose to $16.4 million from $12 million a year ago.

Revenue fell 3.2% to $95.1 million. The company said it had declines in Cross-Platform Solutions revenue from lower renewals of its national TV offering, partially offset by growth in its movies business. Revenues from Comscore’s Proximic unit and its Comscore Campaign Ratings product were up more than 50%.

For 2024, Comscore said it expected revenues to be between $375 million and $390 million and for adjusted EBITDA margins to be between 12% and 15%.

The company said it expected growth in Cross Platform Solutions revenue from its local TV offering and an increase in Digital Ad Solutions revenue from its Activation and CCR products.

“We anticipate that our national TV revenue will continue to be impacted by the linear ad spend pressure that major networks are experiencing, and that demand for custom digital products will continue to be unpredictable due to the macroeconomic environment,” the company said.

Comscore said it expects first-quarter revenue to be down, with revenue growth happening in the back half of the year.

"As we reflect on 2023, there is a lot to be proud of. While we fell short of our top line revenue goals for the year, we made substantial progress on changing the way we operate, which allowed us to achieve our adjusted EBITDA goals,” said CEO Jon Carpenter. 

"As we begin 2024, I remain confident that we are moving the business in the right direction as we execute on our turnaround,“ Carpenter said. “We’re focused on providing the fast and accurate cross-platform data that helps our clients buy, sell and optimize media more effectively. Our double-digit growth in local TV, coupled with accelerated growth of our Comscore Campaign Ratings product and our Proximic offerings — a combined 34% over 2022 — are clear signs that the value we're able to offer to a rapidly changing advertising ecosystem is meeting a large and growing need.”

Comscore said that it reached a multi-year agreement to provide local cross-platform measurement for Tegna in all of the 51 markets where Tegna has television stations.

Comscore competes with Nielsen, the leader in the TV audience measurement business.

Tegna and Comscore signed an agreement in 2020 that called for Comscore to provide ratings in 22 of 51 markets.

In 2021, Tegna renewed a deal with Nielsen that covered 34 of Tegna’s markets.

A Tegna spokesperson did not answer a question about whether Nielsen would continue to work with the company’s stations.

Financial terms of the deal were not disclosed.

Also Read: Nexstar Picks Comscore for Local, National, Cross-Platform Audience Measurement

“Expanding our partnership with Comscore will offer us deeper insights through digital and qualitative data, enriching cross-platform solutions for our valued advertising partners,” said Lynn Beall, executive VP and COO, media operations, at Tegna. “We look forward to partnering with our clients to deliver their targeted audiences across any platform with precision and effectiveness to grow their business.” 

Also Read: Nexstar Extends Deal With Nielsen for Local, National Ratings

Comscore will provide Tegna with a complete view of audiences across linear, CTV, and digital channels and data  that will help Tegna’s advertising clients optimize their campaigns.

“Comscore is proud to be a valued partner to Tegna which is known for its trustworthy and impactful local journalism and strong connections to the communities they serve,” said Comscore CEO Jon Carpenter. “The combination of our local linear TV data, and our groundbreaking cross-platform solutions will help TEGNA measure the value of their content and deliver outsized value for their advertisers across linear and digital. We're excited to begin this latest phase of our partnership.”

Comscore said it has enhanced its Comscore Campaign Ratings product, enabling advertisers  to optimize digital campaigns alongside linear schedules in flight.

Comscore Campaign Ratings Local now provides access to deduplicated audience measurement at the market level across national and local linear, digital and social platforms.

The Trade Desk will be the first demand-side platform to integrate CCR Local market reporting, giving The Trade Desk’s clients access to expanded insights to help measure data-driven campaigns.

“Comscore has delivered a true cross-platform solution that measures audiences at the hyper-local level, enabling our clients to advertise nationally and optimize locally," Comscore chief commercial officer Steve Bagdasarian said. “Advertisers need measurement partners who can address the scale of where their audiences are. We’re building enterprise-level cross-platform measurement that offers advertisers the ability to seamlessly measure and optimize against their intended audiences with speed and accuracy, whether it is programmatically or directly, both nationally, or locally.”

With the majority of goods purchased locally, it is critical for brands to incorporate their linear TV ad exposure into their digital strategies and vice versa, Comscore said. 

When existing clients have leveraged CCR Local, they have seen upwards of 28% incremental reach in their CTV buys, Comscore said.

“The average household has become more crowded with devices and platforms, so marketers need the best data and insights to help ensure the most impactful advertisements,” The Trade Desk VP of data partnerships Ben Sylvan said. “Comscore’s new offering has the insights to help our clients make the most out of their media investment, especially for auto advertisers or political campaigns where success on the local level is key.” 

Nexstar Media Group has agreed to a multiyear extension of its agreement with Nielsen, which will continue as a preferred provider of local and national TV audience-measurement services to the broadcaster.

The agreement follows a similar announcement from Comscore earlier this month.

The new deal with Nielsen covers ratings for Nexstar TV stations in 116 markets, The CW Network, NewsNation and Antenna TV.

Nexstar signed previous deals with Nielsen in 2020 and Comscore in 2019.

Last year, Nexstar invited measurement companies to submit proposals for improved audience measurement and complained that its viewership was being understated. 

Nielsen, which has long dominated TV’s audience-measurement business, has been under pressure from a group of newer companies that use big data from set-top boxes and smart TVs to estimate how many viewers are tuned in.

Companies are also looking to cut costs, including how much they spend on research. 

Financial terms of the deals were not disclosed, but Nexstar’s decision to keep both Nielsen and Comscore shows that Nielsen still has a good grip on the industry as it rolls out Nielsen One, which adds big data to measure a more fragmented environment in which streaming increasingly dominates viewing.

“We are pleased to extend our relationship with Nielsen and are excited about the potential for Nielsen’s Big Data + Panel measurement solution to more accurately measure all the places where consumers engage with Nexstar’s valuable content — over the air, via cable and satellite, over-the-top, online and out-of-home,” said Nexstar chief revenue officer Michael Strober said.  

After The CW added LIV Golf to its lineup last February, Nexstar hired iSpot.TV and VideoAmp to measure the audience across platforms and got numbers significantly different from Nielsen’s figures.

“Nexstar is a valued, longstanding customer, and we’re proud to continue to serve as one of its preferred providers of audience data and ad measurement,” Amilcar Perez, chief revenue officer at Nielsen, said. “Nielsen’s unique mix of unrivaled data-science expertise, paired with our comprehensive measurement, sets us apart from other providers. We remain committed to bringing the industry and our customers data they can trade on with confidence.”

Nexstar Media Group said it signed a long-term deal with Comscore to provide cross-platform audience measurement metrics for its local stations, its The CW network nationally and its digital assets.

The contract follows a process in which Nexstar invited measurement companies to submit proposals for improved audience measurement.

Nielsen, with its panel-based method, has been under pressure from rival measurement firms, including Comscore and iSpot.TV, which base their audience estimates on big data from set-top boxes and smart TVs.

“I think this is one of those inflection points in a very critical year,” Steve Bagdasarian, chief commercial officer at Comscore, told Broadcasting+Cable.

“It’s fantastic to work with a large-scale broadcaster and be their choice as it relates to currency measurement,” Bagdasarian said “I think they’re seeing what we see as well about the future of how media is going to be bought, sold and traded.”

Nexstar signed measurement deals with Nielsen in 2020 and Comscore in 2019.  

After The CW added LIV Golf to its lineup in February, Nexstar hired iSpot.TV and VideoAmp to measure the audience across platforms and got numbers significantly different from Nielsen’s figures.

When Nexstar launched its request for proposal (RFP) process, it complained that it was not getting accurate audience numbers and that its audiences were undercounted across platforms, which costs advertising dollars.

“Comscore’s ability to provide us with total audience measurement metrics across our local television stations and websites, NewsNation, The CW Network, and The Hill, enables our cross-platform sales team to leverage our unique scale and reach to customize bespoke advertising and marketing solutions for our clients,” Michael Biard, Nexstar’s president and chief operating officer, said. “We look forward to offering our advertisers deeper insight into who is watching and interacting with our programming and when they are doing so, enabling them to focus on the audiences they want to reach.”

Nexstar declined to say to what degree it continues to work with Nielsen. And while Comscore had made inroads against Nielsen in local markets, Nielsen remains dominant nationally.

“Nielsen still remains, obviously, a significant incumbent,” Bagdasarian said. 

And it's an incumbent that station managements have long complained about and is criticized for charging monopolistic rates for its services.

“I think that we are fairly priced for the capabilities that we have and I think the market has historically seen us from a price-to-value standpoint to be in a more favorable camp,” Comscore's Bagdasarian said.

 Financial terms were not disclosed.

Comscore says it provides measurement across  210 TV market. With its single methodology for both local and national measurement, Comscore’s audience numbers for all 41,704 zip codes roll up into a national audience total.

Nexstar expects Comscore to deliver more precise audience insights across screens to help advertisers optimize total reach and measure the holistic cross-platform campaign with de-duplicated in-flight monitoring of key metrics such as reach and frequency, incrementality, and co-viewing.

“Look, it's fantastic to work with a large scale broadcaster like Nexstar and be their choice as it relates to currency measurement,” Bagdasarian said.

Measurement is especially crucial in 2024, with the elections coming up, not to mention the Olympics. 

“This is a signal that the concept of alternative currencies is going to continue to be a big topic.” he said. “I think it sends a strong signal to the market that there is the ability to think differently about how you might have invested  your measurement resources in the past,” he said.

Inscape, the data unit of smart TV maker Vizio, said it will be providing expanded coverage of local TV stations by tapping into smart TV tuners in all U.S. markets.

Data from 22 million opted-in smart TVs will be used by stations and measurement companies, including Comscore and VideoAmp, to provide more detailed viewing information from a larger number of viewers. 

Local over-the-air TV ratings have been inconsistent because of small sample sizes, particularly in smaller markets. That hurts stations’ ability to sell advertising, particularly to national advertisers.

“By unlocking the potential of local TV in this game-changing way and bringing the full power of big data to OTA signals, clients and the industry as a whole will now have a critical entrypoint to previously unfeasible attribution of local TV content,” Charbel Makhoul, VP of product management, data science and analytics at Vizio and Inscape, said.

The tuner data will be available to participating Inscape clients beginning this month.

The new data can be used to optimize local ad spend with granular device-level data, and to analyze audiences to help improvise content strategy, Inscape said.

“For Comscore, having multiple sources of data capture is a key component of our TV measurement approach, which spans across all 210 local markets,” Comscore chief innovation officer David Algranati said. “Incorporating Smart TV Tuner Data from Inscape gives Comscore additional views into local station viewing behaviors, enabling us to better serve our clients with the most precise measurement.”

Josh Chasin, chief measurability officer at VideoAmp, said: “Local TV, and especially over the air digital broadcast, is one of the most robust spaces in the video ecosystem. We’re thrilled that Inscape is proactively supporting the measurement of this vital piece of the video pie.”

In an era of cord-cutting, 18% of U.S. TV households have a digital antenna and watch TV over the air. Over-the-air viewing generated an estimated $15.4 billion in advertising revenue in 2023. That figure is expected to jump to $18.8 billion in 2024, because it is a presidential election year.

Comscore said it plans to move forward with a reverse stock split that will turn 20 current shares of Comscore common into one higher-priced share.

Approved by Comscore’s board of directors in December, the move is designed to put the measurement company in compliance with Nasdaq rules that listed shares be worth at least $1 each.

Comscore stock closed Friday at 75 cents a share, down from a 52-week high of $1.48.

Investment company 180 Degree Capital Corp., which owns a 7% stake in Comscore, has been planning a proxy fight to get two new directors of Comscore’s board, citing the decline in Comscore’s stock price.

After the reverse stock split, the number of outstanding shares of common stock will be reduced from approximately 95.1 million to approximately 4.8 million, subject to adjustment for fractional shares, Comscore said.

"While we are disappointed that market conditions led to this reverse split, we are encouraged by our recent performance as we continue to pursue clear financial, operational and strategic opportunities to deliver growth and value for our shareholders and clients,” said Comscore CEO Jon Carpenter. “We expect to meet the 2023 financial guidance we published in November and see strong growth potential for 2024 and beyond.”

Adjustments will be made to the number of shares of common stock issuable upon conversion or exercise of the company's preferred stock, equity awards and warrants, as well as the applicable conversion or exercise price.

Investment company 180 Degree Capital Corp., which holds a 7% stake in Comscore, is looking to shake up its board of directors in order to boost the measurement company’s sagging stock price.

In filings with the SEC, 180 Capital blamed the 78.5% drop in Comscore’s share price since the company was recapitalized in 2021 on a “dysfunctional” board.

Comscore did not respond to a request for comment.

180 Capital said it seeks to put two new directors on Comscore’s board and remove one of the two directors that Charter Communications and Liberty’s Qurate Retail each currently have on the board since they invested $204 million in the measurement company and received preferred shares.

“180 Degree Capital believes [Comscore’s] share price has declined due to poor corporate governance, excessive compensation of members of the board, and a perceived misalignment of interests between the preferred stockholders and common stockholders that has yet to be assuaged,” the investment company said in its filing. 

In the filing 180 Degree Capital said it supports CEO Jon Carpenter, under whom the company’s earnings before interest, taxes, depreciation and amortization has increased 33%, and wants him appointed to the board.

Also Read: Comscore Reports $1.7 Million Loss for Third Quarter

Its other suggestions include providing clarity to all stakeholders as to how the independent members of the board will approach any demand for a special dividend by the issuer's preferred stockholders; reducing compensation of the board to be in line with peers; reducing the size of the board to include one member from each preferred stockholder rather than two and the appointment of a new lead independent director.

“Frankly, 180 Degree Capital does not understand why the Board has not taken action on these proposed solutions,” the investment company said in its filing. 

180 Degree Capital said it controls 6.7 million Comscore shares, representing a 7% stake.

Its proposed directors, Matthew McLaughlin, former chief operating officer of DoubleVerify, and Kevin Rendino, chairman and CEO of 180 Degree Capital, own 2 million shares (a 2.1% stake) and 252,768 shares (less than 1%), respectively.

Charter's two directors on Comscore’s board are David Kline, executive VP at Charter and president of Spectrum Reach, and Pierre-Andre Liduena, group VP, business development.

Liberty Media and Qurate Retail Inc. are represented on the board by VP Marty Patterson and chief accounting officer Brian Wendling.

Comscore stock traded at 64 cents a share in early trading Thursday, down less than $1 from Wednesday’s close and down from a 52-week high of $1.48.

Comscore reported a slim third-quarter loss as revenues fell. 

The measurement company said it $1.7 million, or 2 cents a share, in the quarter, compared to a $56.3 million loss, or 60 cents a share, a year ago

Revenue fell 2% to $91 million.

Cross Platform Solutions revenue was up 0.2% from Q3 2022, driven by continued double-digit growth in local TV revenue, offset by lower national TV revenue, the company said. Activation and Comscore Campaign Ratings delivered growth rates of 23% for the quarter and 26% year-to-date compared to 2022. Digital Ad Solutions revenue declined 3.6% 

Comscore said it expected full-year 2023 revenue will be flat to down 1% compared to 2022. The company affirmed its guidance for a double-digit adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) margin.

“Despite challenging end-markets that impacted revenue in the quarter, we delivered double-digit growth in local TV, more than 20% growth in Activation and Comscore Campaign Ratings, and a significant increase in profitability and adjusted EBITDA,” CEO Jon Carpenter said. “As we close out 2023 and look to 2024, we will continue to leverage Comscore's complete view of audiences across platforms to deliver value for our clients and shareholders.”

Comscore said it has added social media metrics to its measurement of digital audiences, enabling publishers and brands to better determine the size of their deduplicated audiences across desktops, mobile and social platforms.

Comscore’s methodology streamlines data with precision and uncovers interconnections across platforms, enabling us to deliver unique reach metrics that now include social,” said Greg Dale, COO at Comscore. “It’s a solution only made achievable by the massive scale of Comscore’s proprietary digital panel. Our Social Incremental methodology, which is inherently privacy-first, allows publishers with significant social presence to capture and monetize the full value of their deduplicated audiences across their entire footprint.” 

Brands, agencies and publishers can use the expanded metrics for audience overlap analysis, combined total audience reach, deduplicated social reach and customer centric reporting to guide decision making. 

Comscore’s Digital Industry Rankings will now report on traffic inclusive of social for entities that have worked with Comscore to activate the enhanced measurement. 

“Buzzfeed has built significant scale both on our own properties and offsite across all major social platforms…and Comscore’s Social Incremental reporting will allow us to demonstrate how we can deliver strong value to our partners both on our own sites and now also through our huge social reach,” said Jörn Rose, director of platform growth analytics at BuzzFeed. 

“iHeart is excited to add social media fans into our Comscore audience, because these are some of our most vital and fastest growing audiences,” added Conal Byrne, CEO of iHeartMedia’s Digital Audio Group. “Also, notably, the scale of this social media audience is totally unique to iHeartMedia in the audio space: We are the only audio company in the country with this massive, engaged audience across all social platforms – driving home the fact that we are a companionship company like none other.” 

On Wednesday, Roku's Nasdaq price cratered once again (more than 7%), after Wells Fargo analyst Steven Cahall lowered his price target for the company citing a soft ad market. 

But while the bears on Wall Street continue to have their way with Roku, Madison Avenue seems OK with the streaming company.

Citing the fact that 38% of all U.S. household streaming is now conducted on the Roku platform, Comscore announced Thursday that ad campaigns on Roku, including those targeting the Roku Channel, have been integrated into the ad tech company’s ”flagship“ cross-platform solution, Comscore Campaign Ratings. 

CCR clients will now be able to quantify the number of people watching Roku content, beyond merely counting households, and they'll be able to measure key audiences within Comscore’s cross-platform, persons-level reporting.

Measuring 62 million ads delivered across six campaigns on Roku, Comscore found that co-viewing delivered a 37% lift in ad exposure.

Advertisers and agencies can assess the incremental impact of Roku within their media plans while also understanding the co-viewing on Roku compared to other platforms.

Comscore is now an approved measurement vendor in Roku’s Measurement Partner Program.

Comscore’s Proximic, which provides targeting capabilities for programmatic campaigns, said it has launched new contextual products designed to be used across platforms at scale.

The new capabilities enable targeting by demographic or by viewing of specific shows and can be accessed by major buy-side and sell-side platforms.

Rachel Gantz, managing director of Proximic by Comscore, told Broadcasting+Cable that new capabilities are delivering Comscore’s predictive audiences.

“They leverage contextual technology, but they do so in a smarter way to really get at the needs and desires of audience targeting without levering IDs,” Gantz said. “These can be applied to any and all programmatic inventory, web, mobile, CTV, even audio.”

Some targeting systems suffer from signal loss, making it hard to scale up audiences.

Being a division within Comscore enables Proximic to leverage the company’s data assets, including its opt-in digital panels. 

“We have the benefit of seeing full content consumption by those individuals. so we get to leverage Comscore data assets,” including its opt-in digital panels. “We have the benefit of seeing full content consumption by those individuals and using Comscore’s AI contextual engine. This is the powerhouse behind the Proximic solutions.”

Also Read: Comscore’s Proximic Claims 5,000 Advertisers as Clients

One of the new products lets advertisers recreate and more sharply target demographic audiences without specific viewers’ ID information.

“Advertisers still heavily rely on demographic data so it’s important to make sure we’re provisioning it where they want it and how they want it,” Gantz said.

One advertiser secured a 96% lift in incrementality when using ID-less Predictive Audience segments compared to the same ID-based segment, indicating the strength in audiences that do not rely on cookies, Comscore said.

Another enables advertisers to reach the audiences of specific shows on streaming. Most streaming services are not able to sell inventory on specific individual shows directly. The Proximic data enables them to zero in on the viewers of specific shows programmatically.

The company also launched the Proximic Activation Platform, which is designed to give marketers and media companies extra control over their ad campaign targeting and enable them to create customized audience segments.

"By using Proximic's ID-free demographic and behavioral targeting solutions, we have strategically evolved our approach to inventory monetization to ensure optimal targeting accuracy and precision while reaching maximum audiences, regardless of the presence of IDs. This is especially crucial in the face of increasing signal loss and privacy constraints,“ Gina Perino, VP of ad Operations & strategy at Blavity said. "This proactive approach helps us reduce dependence on third-party segments that may become obsolete when third-party cookies in Chrome are eliminated in 2024."

More and more data providers are looking to provide contextual and other data to programmatic buyers and sellers and the competition is piling up.

“I think People are looking for the providers that can provide both scale and precision,” Gantz said. “We think that because we have the benefit of being able to rely on Comscore’s currency-grade data assets, it results in having these segments that are more performative and that has allowed us to make inroads into what otherwise is a fairly fragmented and competitive market.”

Comscore also offers very competitive pricing compared to what advertisers typically pay with programmatic platforms, she said.

Nielsen challengers Comscore, iSpot and VideoAmp were granted conditional certification as currency for buying and selling advertising by the U.S. Joint Industry Committee (JIC) set up by media companies to set modern standards for audience measurement in a multiplatform environment.

The conditional certification means the three companies were judged to be transactable in the first part of the JIC’s analysis.

The certification might give the executives who oversee measurement decisions another reason to hire one of Nielsen’s rivals,  setting up a future in which buyers and sellers can choose from multiple ad currencies when transacting.

Nielsen was invited but declined to participate in the JIC’s certification process, which is being managed by OpenAP, the advanced advertising company owned by several major media companies. including NBCUniversal and Paramount Global.

Also Read: Nielsen Names Measurement Head Karthik Rao as New CEO

Some media companies, including NBCU, Paramount and Warner Bros. Discovery, are already using alternate currency providers for some deals.

Nielsen and its competitors are increasingly using big data from set-top boxes and smart TV sets to measure viewing. The methodologies for using big data–including Nielsen’s–have not been accredited by the Media Rating Council, which provides the seal of approval to TV measurement systems.

Also Read: Nielsen Tackled, Won’t Use Amazon Data In ‘Thursday Night Football’ Ratings, but It’s Only First Down

“We support the JIC because it will bring increased transparency, innovation and competition in the currency marketplace — it’s part of our investment in audience and outcome measurement as well as the development of the cross-platform currency of the future that includes all streaming platforms and services,” iSpot CEO Sean Muller said.

‘We are pleased to be granted conditional certification for Cross-platform Currency by the U.S. JIC,“ Comscore said in a statement. “This is affirmation of our methodology and big data approach, which already serves as currency for a multitude of local and national clients, including JIC members. 

“As the only provider under consideration by the US JIC who is also currently undergoing MRC accreditation for audience measurement, Comscore looks forward to continuing along in the certification process,” Comscore added. “We congratulate the members of the U.S. JIC for their efforts towards transparency and the establishment of measurement standards. With today’s announcement, we invite brands and agencies to come test, learn and discover Comscore’s cross-platform capabilities.”

The JIC expects to award full certification in early 2024. To achieve full certification, companies have to pass a data evaluation. With full certification, measurement companies will have access to the JIC Streaming Data Service that will launch next year made up of first-party data from the media companies.

Also Read: Joint Industry Committee Reveals How It Will Grade Measurement Companies Seeking Certification

Another company in the measurement business, Innovid, said it was not pursuing a currency strategy and wasn’t expecting to be among those certified.

“Our platform, InnovidXP, is used today by brands and agencies to gauge converged TV performance against unique business goals, and by publishers to prove the value of their investments and inventory,” Dave Helmreich, chief commercial officer at Innovid, said. “We currently enable brands like GM, Verizon, and P&G and platforms like Disney, Comcast, NBCU, Roku, Tegna and Tubi to deliver better TV advertising experiences that consumers love.

“We are currently in CEO-level conversations with OpenAP/JIC about a possible non-currency related partnership and will share more when the time is right,” he added.

The JIC was set up in January with NBCU, Paramount, Fox Corp., WBD and TelevisaUnivision on board.

Media buying agencies were later invited to serve on the JIC’s committees, including the ones defining standards and voting on certifications.

Other traditional media companies later joined, as well as Roku. Key companies that are not part of the JIC include The Walt Disney Co., YouTube, Netflix and Amazon.

The JIC’s initial charter was to create a certification process for new currencies and  a streaming viewership dataset through OpenAP.

“We applaud the efforts of all companies who leaned in with the JIC’s currency certification efforts and participated in the RFI stage,” the JIC said in a statement.

“Throughout the process thus far, it is clear that — while there is still work to be done — we are moving closer to having more currencies that are commercially ready for scalable transactions across both buyers and sellers,“ the JIC said. “We look forward to continuing to work with the companies in both the next stage of the currency data-evaluation process, as well as with those who will be partnering on measurement certification next year, as we thoughtfully and collaboratively work toward ushering the industry toward a modern measurement and currency ecosystem.” 

Connected TV viewing is up 21% per household, with ad-supported services picking up the be bulk of new viewing, according to a new report from Comscore.

Total CTV hours viewed rose to 11.5 billion in 2023 from 9.6 billion in 2022, according to the measurement company’s seventh annual State of Streaming report.

Comscore said that 75% of the growth in new streaming were going to streaming provider outside of the leaders — Netflix, YouTube, Amazon Prime Video, Hulu, HBO Max (now Max) and Disney Plus — while consumption of free ad-supported streaming television (FAST) channels and targeted programming accelerates.

Streaming of ad-supported streaming services is up 17% over the past two years, while non-ad supported streaming services are up 9%.

Over the last 15 months, audiences for The Roku Channel are up 27%; Pluto TV is up 28%; Tubi is up 48%; and Freevee is up 55%, Comscore said.

Hispanic households increased their consumption of FAST content by 81% over the past year.

As if May, Comscore said that 60% of CTV using households have either cut the cord or never had a subscription to payTV. That’s up from 37% in 2019.

Smart TVs were the dominant device for viewing, with usage in 74.5% of homes that stream content. Usage of streaming boxes and stickers dropped to 64% of homes from 64.5% a year ago and gaming consoles were employed in 43.5% of homes, up from 38.6%.

"While the top US streaming services are keeping up with the demand for subscriptions, new growth can be observed in FAST streaming platforms like Roku, Pluto and Tubi which are increasingly consolidating their position in the household mix," said James Muldrow, VP, product management, Comscore. "At the same time, cable/satellite subscribers remain some of the most engaged users in the streaming landscape. With three cable/satellite providers in the Top 10 ranking of video services based on hours watched per household, these findings highlight the success of these providers in offering advertisers consistently engaged streaming audiences."

Comscore said that it has embedded gender equity attributes in its digital audience campaign planning system.

Comscore worked with the Association of National Advertisers’ SeeHer initiative to develop GEM Audiences. 

GEM Audiences enables brands to better understand, beyond demographics, how to reach and engage consumers with a gender equality mindset.

“SeeHer’s mission is to increase the accurate representation and portrayal of all women and girls in media, marketing and entertainment to reflect culture and transform society. As 90% of consumers agree that media is critical in shaping gender roles, we are delighted to bring this new dimension of GEM to the market”, said Christine Guilfoyle, president of SeeHer. 

Comscore said working with SeeHer is part of its effort to back up its philosophy that every dollar, every screen and every person counts.

Audiences as it addresses an urgent need for more advancements in audience intelligence and measurement to help marketers better understand and prioritize digital audience segments and media properties that strongly align with gender equality, added Latha Sarathy, Chief Research Officer, Association of National Advertisers and SeeHer.  

“With the SeeHer partnership, Comscore is not only bringing the most comprehensive view of the consumer across all media platforms, but also supporting responsible media and data collaboration efforts with organizations that help brands make a difference,” said Dana Ren, senior VP and head of client insights at Comscore. “As we bring this to market with SeeHer and the ANA, we hope to engage with more brands who are looking to deepen their audience understanding beyond demographics and quantify the impact of their responsible media initiatives.” 

Comscore reported charges against earnings that resulted in the company posting a second-quarter net loss.

Revenue for the quarter was up 2.5% to $93.7 million.

The net loss was $48.8 million, or 51 cents a share, compared to an $8.9 million loss, or 10 cents a share, a year ago. The loss included a non-cash goodwill impairment charge of $44.1 million and restructuring costs of $4.1 million.

Adjusted earnings before interest, taxes, dividends and amortization rose 35% to $8.8 million, the company said.

Cross Platform Solutions revenue was up 3.1% from Q2 2022, with double-digit growth in local TV. Digital Ad Solutions revenue was up 2% from Q2 2022, primarily due to increased usage of the company’s Activation product.

“The second quarter that we're announcing today represents meaningful progress as we remain focused on becoming a more profitable, scalable and nimble organization,” CEO Jon Carpenter said.

“We saw strength in our digital business and particularly in Proximic, our activation business,” Carpenter said. “Leaning into our digital heritage and unique scale and granularity, in ways that only Comscore can, we believe we can solve some of the inefficiencies in measurement that media companies and advertisers have tolerated for too long. We are intent on making audience data and measurement actionable for a cross-platform and cookieless world. While there is much work to do, I am confident that the focus and execution we demonstrated in the second quarter will drive us forward as we move into the back half of 2023.”

Proximic, a division of Comscore that provides audience and targeting data for programmatic campaign execution, said it now serves more than 5,000 advertiser clients.

Proximic also said it formed new and expanded integrations with Adobe and Publica that will provide access to Proximic by Comscore’s ID-free segments, including Predictive Audiences.

“We’re already seeing such strong adoption of Predictive Audiences because the product is delivering,” Rachel Gantz, managing director of Proximic by Comscore, said. “Proximic by Comscore’s Predictive Audiences are outperforming legacy data sets and giving brands the incrementality they need for growth. These new partnerships allow us to continue expanding reach for advertisers no matter which programmatic platform they choose to use.”

Also Read: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

The contextual audience targeting technology provided by Proximic frees advertisers from relying on cookies to identify consumers, a big selling point as cookies are going away.

“Having access to future-proofed, signal-loss-resilient targeting tactics like Proximic by Comscore’s Predictive Audiences is critical to build a sustainable strategy today that will continue to deliver business outcomes,” Alex Reeder, VP of data innovation and research at Havas Media, said. ”If we can achieve superior performance without the use of IDs, it’s a win-win.”

Comscore said the integration with Teads introduces ID-less CTV targeting capabilities. Using Proximic’s Predictive Audiences and ID-free demographic segments, media buyers can efficiently target their ideal consumers on CTV platforms, ensuring relevant and effective ads are delivered to the biggest screen in a consumer’s home.

The collaboration with CTV ad server Publica lets publishers access Proximic’s Predictive Audience data. Adobe’s suite of targeting solutions now will enable media buyers to access the Predictive Audiences data.

WBNX Cleveland, an independent station owned by Winston Broadcasting Network, said it will use Comscore local TV as an additional source of viewership information to sell and post advertising buys.

Comcsocre competes with Nielsen in providing local viewership data.

”Comscore‘s local measurement provides WBNX and our advertisers the ability to see the true viewing behaviors from our community,“ Lori Bruch, general manager at WBNX, said. “With Comscore‘s consistent and reliable data set, we are confident that we will be able to attract more advertisers and that we will be able to showcase our audience strengths like never before.“

Comscore recently expanded its Pulse TV, which delivers viewership data within 48 hours in all 210 local TV markets.

“WBNX serves the Akron and Cleveland communities with a diverse programming content that provides advertisers an opportunity to reach their consumers with a powerful emotional connection through the television art of sight, sound and motion,“  Carol Hinnant, chief revenue officer at Comscore, said. “We welcome WBNX to Comscore’s growing local station roster and look forward to our partnership.“

NBCUniversal said it will transact advertising sales deals across the 31 local markets where it owns NBC and Telemundo stations using Comscore as currency.

NBCU will also be using InnovidXP to provide ad clients with new impact and attribution metrics.

The shift to Comscore from Nielsen will enable stations and local advertisers to shift from using age and gender-based demographics to advanced audience targeting, NBCU said. 

“Comscore’s near-census-level data, fast 48-hour delivery speed, sophisticated advanced audience tools, consistency, and more granular scaled data, will help our advertisers to better optimize and reach their most valuable audiences,” said Frank Comerford, chief revenue officer and president, commercial operations for the NBC owned stations, said in a blog post.

“Recently, Comscore has received the support of several agency partners including Magna and Dentsu, who are already doing deals through this incredible technology. Getting counting right is table stakes as we continue to move beyond historical models focused exclusively on exposure and reach, and increasingly embrace models that help our advertisers understand outcomes,” Comerford said.

Also Read: Comscore Making Local Gains But Still Has Long Way to Go

NBCU has been among the media companies that has been most aggressive in finding alternatives to Nielsen for national measurement. NBCU has said it plans to transact using iSpot.TV in some upfront deals this year.

Last year, NBCU certified Comscore as a currency partner for local media.  

NBCU will continue to use Nielsen as currency if buyers prefer Nielsen.

"This announcement further expands and enhances Comscore as a leader in local television measurement,“ Comscore CEO Jon Carpenter said “Our near census-level data and fast 48-hour delivery, coupled with our advanced audience tools are helping clients like NBCU and their advertising partners maximize the opportunity to engage with audiences across local markets.”

With Comscore and InnovidXP, NBCU said it can support local marketers and provide real-time data-driven privacy-minded insights.

It can also gauge in-flight campaign efficiency, effectiveness and frequency, as well as media and creative performance and return on investment.

Measurement company Comscore reported a loss for the first quarter as revenue dropped from a year ago.

Comscore’s net loss was $12.5 million, or 13 cents a share, compared to a loss of $13.1 million, or 14 cents a share a year ago.

Revenue fell 2.6% to $91.6 million. The company said revenue was hurt by slower ad spending, which affected its digital product.

The company noted that it expanded its Comscore Campaign Ratings relationship with YouTube and will  measure incremental reach on the upcoming NFL Sunday Ticket content addition.

Comscore said it was maintaining its full-year guidance for revenue and adjusted earnings before interest, taxes, depreciation and amortization,

"Despite a challenging macroeconomic environment, I am pleased with the progress we're making against our strategic and operational priorities," said Jon Carpenter, CEO of Comscore. "Our wins over the course of the first quarter, including Warner Bros. Discovery, YouTube and IPG Mediabrands, highlight the breadth of our offerings and the confidence our clients have in the scale, transparency and interoperability of our solutions. We remain focused on execution, delivering best in class cross-platform audience solutions for our clients and value creation for our shareholders."

Comscore said that it has expanded its “Pulse” measurement service–which provides local viewership data within 48 hours–to all 210 U.S. markets.

Comscore originally offered Pulse in the top 60 media markets. In 36 of those markets, clients also receive campaign pacing or demo viewing level data.

“Our data with Pulse is an industry first and highlights Comscore’s investment and innovation in television consumption measurement.  Our measurement is now the only solution to report viewing in 48 hours for every local TV market, and nationally with the same single source methodology regardless of the market,” said Comscore Chief Revenue Officer Carol Hinnant. “This advancement allows the industry to make faster programming and advertising decisions with confidence.”  

Also Read: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

Comscore said it has built Pulse from the Zip-code level up, using return path data from cable set top boxes. Pulse competes with Neilsen’s local market ratings service and has helped Comscore add stations as clients. 

“We have relied on Comscore as our trusted source for television analytics for years, but with the innovation of Pulse data, we will better serve our clients and their agencies, giving us the tools we need to be more agile and responsive to their television campaigns,” said Jackie Lynch, general manager of American Spirit Media’s WXTX-TV in the Columbus, Georgia-Auburn, Alabama market. “Having more timely data allows us to utilize inventory in new programming like never before, proving its value, and optimizing viewership goals for our advertisers.” ■

Comscore said it has launched a new division, Proximic by Comscore, dedicated to programmatic targeting.

Previously known as Comscore’s activation team, the new unit’s capabilities can be accessed by clients through Basis Technologies, LiveRamp, SXM Media’s AdWizz, Xandr’s Invest DSP and Yahoo.

“We’ve always been dedicated to using our data and AI to empower marketers to effectively reach consumers and publishers to access privacy-forward monetization tactics,” Proximic by Comscore managing director Rachel Gantz said. “This new chapter marks an even bigger stage for us to showcase our strengths. 

“As traditional targeting signals have rapidly declined, the addressability gap has widened, leaving advertisers looking for new cost-effective tactics to hit reach goals,“ she added. ”We are excited to be able to leverage the best data in the industry with innovative technologies to maximize the impact of programmatic campaigns.”

Comscore acquired Proximic in 2015. The company specialized in contextual and targeting, adding predictive audiences to help reach consumers at scale through programmatic channels. Additional capabilities, including custom audiences based on TV viewership or website visits, have also been built in.

“The need in the marketplace for innovative, holistic targeting solutions that address the full bid stream, with and without IDs, has never been greater,“ Comscore executive VP of growth Steve Bagdasarian said. “Proximic by Comscore is not just about future-proofing, they’re raising the bar for what brands can expect from the performance of campaign targeting today. Given Proximic by Comscore’s market-leading targeting capabilities, it is important to invest in the brand to meet the needs of today’s programmatic environment.” ■

Comscore posted a loss in the fourth quarter as revenues edged up.

The measurement company’s net loss was $3.76 million, or 4 cents a share, compared to a loss of $1.03 million, or 1 cent a share a year ago. The loss includes the payment of dividends on convertible preferred stock.

Adjusted EBITDA was $12 million, compared to $12.4 million a year ago.

Revenue rose 2% to $98.2 million. 

The company said cross-platform solutions revenue increased by double digits, while digital ad solutions revenue declined.

Comscore said it expects revenue to grow by low to mid single digits in 2023 and for adjusted EBITDA margins to be in the double digits.

“Our focus has been on speed, execution and profitability. In 2022 we launched Comscore TV Pulse, which delivers local TV data within 48 hours, and we introduced our new Total Digital user interface that provides a combined view of our digital and social data,” CEO Jon Carpenter said. “We also made strategic decisions related to our cost structure that enabled us to achieve adjusted EBITDA of $37 million, the highest we've had in many years. We did what we said we were going to do, and that has given us momentum as we head into 2023.” ■

The new broadcast season is underway — though fewer seem to notice than in past years — and CBS accounts for three of the five top new series, according to an analysis by Comscore.

The Comscore study looked at viewing from September 1 through Nov. 15.

CBS’s Fire Country is the top series so far with a live-plus-3-day rating of 8.1 and an average audience of 7.7 million viewers over three days.

East New York, also on CBS, is the No. 2 freshman show with a 7.2 rating and 6.9 million viewers.

Rounding out the top five new series on broadcast are ABC’s Alaska Daily (6.5 rating, 6.3 million viewers), CBS’s So Help Me Todd (6.4/6/1 million) and Fox’s Monarch (5.9/5.7 million).

At a time when broadcast gets little respect for the audiences it generates, Comscore notes that every new series in the Top 5 had an average audience of more than 5 million households.

The top returning series on broadcast was CBS’s venerable 60 Minutes, with a 12.7 rating and 12.2 million viewers.

Two of NBC’s Chicago dramas, Chicago Fire and Chicago Med, were No. 2 and No. 3, drawing a 10.4 rating and 10 million viewers and a 10.2 rating/9.7 million viewer respectively.

The No. 4 returning broadcast series is CBS’s Blue Bloods (9.8/9.4 million) and NBC’s The Voice, (9.7/9.3 million) was No. 5.

The top new show on cable was Good Bones: Risky Business on HGTV, which drew a 1.4 rating and 1.3 million viewers.

Other top-rated new cable shows were I Love a Mama’s Boy: Mother Knows Best on TLC (1.2/1.2 million), Love & Hip Hop Atlanta on VH1 (1.2/1.2 million), Best Bobby Flay: Holiday Throwdown on Food Network (1.1/1.0 million) and Interview With The Vampire on AMC (1/926,100 viewers).

Paramount Network’s powerhouse Yellowstone was the top returning cable series with an 11 rating and 10.6 million viewers.

Other high-rated returning cable series were The Curse of Oak Island on History Channel (2.4/2.3 million); Sister Wives on TLC (2.4/2.3 million); Little People, Big World on TLC (2.2/2.1 million); and Tyler Perry’s Sistas on BET (1.8/1.7 million).

In terms of social media reaction, the top returning series on broadcast or cable was The Voice with 18.9 million actions on Facebook, Twitter, Instagram and Tiktok. Venerable Grey’s Anatomy was also big on social with 17.9 million interactions, followed by Yellowstone (11 million), Fox's Family Guy (10.3 million) and VH1's Love and Hip Hop (10.2 million).

The top five new series on social were The Winchesters on The CW, with 1.2 million interactions; Fire Country on CBS (881,000); ABC’s The Rookie: Feds (391,900); The CW’s Walker: Independence (339,500); and Alaska Daily (139,800).

According to Comscore, streaming series generated lots of social media activity.

Cobra Kai on Netflix had 9.5 million interactions, The D’Amelio Show on Hulu had 8.5 million interactions. Judy Justice on Amazon’s Freevee had 8 million interactions, The Grand Tour on Amazon Prime Video had 7.2 million and Manifest on Netflix had 4.7 million.

Wednesday on Netflix was the top new streaming show with 5.3 million social actions. Lord of the Rings: The Rings of Power had 4 million social actions, 1899 on Netflix had 1 million, Interview With the Vampire on AMC Plus had 624,700 interactions and Star Wars: Andor on Disney Plus had 537,300.

The top five shows by total views on YouTube were The Voice with 107.4 million; Love and Hip Hop with 29.4 million; 60 Minutes with 20.4 million; The Masked Singer with 7 million; and Law & Order with 6.6 million.

The top five shows in total views on TikTok were The Voice with 146.3 million views, Yellowstone with 114.4 million, CBS’s Ghosts with 102 million, ABC’s Abbott Elementary with 76.6 million and Grey’s Anatomy with 50.7 million. ■

While a highly public battle brews to break up Nielsen’s monopolistic hold on the national television measurement business, Comscore more quietly is making advances against Nielsen on the local ratings front.

Media buyer Zimmerman Advertising, part of the giant Omnicom Media Group, will be testing Comscore data for use as local market currency.

The agency said the test is part of the agency’s focus on driving results for clients and ensuring that they have access to the most accurate and robust datasets for TV measurement, especially as networks and stations have adopted Comscore as their currency.

One of the largest station group owners, E.W. Scripps, is letting its agreements with Nielsen expire and will be using only Comscore for measurement and media buying currency starting in January. Earlier this year Scripps expanded its relationship with Comscore to include all of Scripps's stations, adding 16 stations in the process. (Scripps’s national networks continue to work with Nielsen.)

“Our goal with our local television stations is to measure our markets’ audiences in the best and most thorough ways available to us so advertisers understand the true size and value of the audience we are delivering. We believe Comscore is best positioned to provide that for us at this time,” said Brian Lawlor, president of the Scripps local media division.

Jon Carpenter, who took over as CEO at Comscore in July, told Broadcasting+Cable that local was at the top of his priority list.

“We’ve made some significant progress in local,” Carpenter said, with local revenues expected to grow 25% this year compared to last year.

“I think that goes to the reliability of our offering and the consistency with which we can produce the data. If you’re an outcome-driven client, which the vast majority of the folks that we work with are, the reliability and stability of that product is what’s resonating,” Carpenter said.

Comscore is also delivering on Carpenter’s early promise to get data about viewership and media effectiveness into the hands of clients faster, allowing them to make adjustments while campaigns are still in flight. “This is a first for the television industry to have 48-hour data available in all 210 markets,” he said.

Over the last five quarters, Comscore has been picking up local business on a fairly steady cadence, said Carol Hinnant, chief revenue officer at Comscore.

Stations' Choice

In addition to Scripps, the local broadcasters expanding their relationship with Comscore over that time include American Spirit Media, Gray Television and the Fox Television stations. Comscore is also the only measurement company certified for use as local currency by NBCUniversal.

Comcast’s Effectv ad sales unit designated Comscore as its preferred measurement provider, joining Charter Communications-owned Spectrum Reach.

“We’re using Comscore because we believe in the methodology, kind of plain and simple,” Beth Plummer, senior VP, chief revenue officer, Spectrum Reach. “They say they have a massive and passive system of audience measurement that is based in part on our aggregated and di-identified first-party data. We feel because it is near-census-level data that it’s more accurate and that’s why we prefer to use Comscore.”

WideOrbit replaced Nielsen with Comscore on its local advertising platform and media agencies Imaginuity (the ad agency behind the “We Buy Ugly Houses” campaign in multiple markets), Horizon Media and Dentsu are now either using or testing Comscore data as local ad buying currency.

“We built that business over time and now you see this kind of rolling,” Hinnant said.

Hinnant said she expects Comscore’s momentum to continue into 2023. The Media Rating Council audit of Comscore’s local ratings is complete, an important part of becoming accredited, she said. (Nielsen’s local ratings are not currently accredited.)

Comscore has added viewing via virtual multichannel video programming distributors like YouTube TV and Hulu Plus Live TV to its ratings, a move that seems to be less controversial with local market execs than Nielsen's adding broadband-only homes to its ratings.

Nielsen's Issues

Nielsen’s issues are contributing to Comscore’s gains, Hinnant allowed. “Both the buy side and the sell side say they know they need better measurement. That’s why they’ve invested in Comscore and championed us,” she said.

Despite picking up new clients, Comscore still has a way to go to top Nielsen, particularly when it comes to share of local revenue.

During Comscore’s second-quarter earnings call, Carpenter told analysts that budgets for local measurement are 2% to 3% of the $24 billion spent on local advertising, or between $480 million and $720 million. He said Comscore estimates that Nielsen collects between $400 million and $500 million of the spending on local measuring, while Comscore has about a 10% share, putting its local revenue in the $48 million to $72 million range.

“The gap between our 10% and that $400 million to $500 million is significant as a near-term opportunity for us in a place we expect to win,” Carpenter told the analysts.

In updating the local revenue situation for B+C, Carpenter said “we expect to deliver close to 25% year-over-year growth in local this year, driven by the hard work and focus of our teams and what they put in. This is the fastest growth rate we've had in local over the last several years and points to the momentum we're building. We're in the early innings still, but we're not slowing down.”

Accounting Issues

Comscore got into the local TV measurement business when it acquired Rentrak in 2016. Regulators discovered accounting issues relating to the Rentrak acquisition that led to a costly and distracting re-audit of the company, fraud charges, a series of losses and the departure of numerous senior executives, including former CEO Serge Matta.

In 2021 Comscore got a fresh start when Charter Communications, Quarte and Cerberus made a $204 million strategic investment in Comscore, wiping out the company's debt.

Comscore reported a $52 million loss in the third quarter. The losses included goodwill charges and costs related to a restructuring that included employee layoffs and the company exiting certain businesses. In November Charter gave Comscore more financial assistance, giving the measurement company $7 million in credits over two years and extending the deal giving Comscore access to Charter set-top-box viewing data. Charter can also use that data in additional ways under the new deal.

Comscore stock closed Friday at $1.25 a share, down from a 52-week high of $3.55.

Carpenter said the restructuring in part will help Comscore focus on businesses including local media.

“We feel good about the direction that we’re headed with the focus first on local, because we know that execution helps us deliver for our clients at a national level because it's the same methodology,” he said.

That methodology, along with the use of Charter data, are why Comscore is preferred over Nielsen as the measurement provider for Spectrum Reach.

“Comscore uses our return-path data so it’s near census level. When you’re using near-census-level data, not panel data, you get more stable data,” said Charter’s Plummer. "When we create campaigns on the front end, it's more likely to deliver the audience on the back end. It’s just more stable. We see less fluctuations in the viewership estimates all the way around.”

Plummer noted that Comscore is turning its data around faster. And by being more granular, Comscore data is more useful to clients looking to reach targeted audiences.

“Local clients are shifting in that direction and Comscore, because it is household-level data, they do have audience attributes against the data too,'' Plummer said. “So they are well equipped to do that.” ■

Measurement company Comscore reported a larger-than-expected loss in the third quarter as it took big write-offs and charges.

Comscore’s third quarter net loss was $52.4 million, or 60 cents a share, compared to a loss of $2 million, or 2 cents a share, a year ago. Contributing to the red ink were a non-cash goodwill impairment charge of $45 million and restructuring costs of $5.6 million.

Adjusted earnings before interest, taxes, depreciation and amortization was up 4%.

Third quarter revenue increased 0.2% to $92.8 million.

Cross platform solutions revenue was up 14% to $40.4 million, driven by local and national TV measurement and a continued rebound in movies.

Digital ad solutions revenue was down 8.2% due to slower ad spending in the quarter.

Comscore lowered its estimate for full-year revenue growth to low-single digits.

“Since stepping into the CEO role in July, I’ve been laser focused on improving speed, execution and profitability,” said Jon Carpenter.

“In the third quarter, we rounded out our executive team with leadership positions that I believe are critical to the success of Comscore,” Carpenter said. “We committed to delivering faster data to our customers, and in September we rolled out our Comscore TV Pulse data with a delivery speed of 48 hours. 

Also: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

Under Carpenter, the company also announced a restructuring plan aimed at cutting costs and aligning its resources to strategic priorities.

“We continue to see momentum in our local and national television businesses, and even though the current economic environment is challenging for our industry, we are excited about what's ahead for Comscore," Carpenter said. ■

Comscore and Charter Communications have extended their data and measurement deal, with Charter giving Comscore credits of $4 million in 2022 and $3 million in 2023.

According to a filing with the Securities and Exchange Commission, the credits are being applied to the payments money-losing Comscore would have had to make to license Charter’s viewer data.

As part of the agreement, Comscore will be Charter’s preferred measurement provider for seven years, up from five years in the original agreement, with an option to extend to 10 years if agreed on by both companies.

The amendment also provides for additional data parameters and specifications to assist Comscore in product development and delivery speed, as well as rights to incremental Charter data sets that become available during the contract term.

Charter helped refinance Comscore 2021 when it, along with Qurate and Cerberus Funds, made a $204 million investment it Comscore that largely wiped out the measurement company’s debt.

Charter also gave Comscore a big leg up in the big-data race by making its set-top-box data available to Comscore in 2020.

Comscore reported a $5.1 million loss in the second quarter. The company disclosed plans to restructure in September, cutting staff in a move that would result in charges of between $13 million and 18 million, including about $6 million to $8 million in severance. ■

Measurement company Comscore said it is restructuring its operation, resulting in employee layoffs that will cost the company $6 million to $8 million in severance payments.

Changes the company plans to make include reducing the company’s data center footprint, reducing operating expenses including software and facility costs. Comscore said it might also quit certain businesses and exit some geographic regions.

Comscore did not disclose how many jobs were impacted by the restructuring.

Overall the restructuring will result in costs of between $13 million to $18 million, according to an SEC filing Thursday. In addition to severance, there will be costs of about $6 million to $8 million for data center reductions and $1 million to $2 million for other costs, including legal, consulting and other professional fees.

As the TV industry looks for alternatives to Nielsen, Comscore is one of the measurement companies whose data is being tested as a potential currency for buying and selling commercials. 

Also: Tony Fagan Gets Expanded Role After VideoAmp Lays Off 10 in Reorganization

Comscore promoted its CFO, Jon Carpenter to CEO in July, replacing Bill Livek who retired. The company had been conducting a strategic review that led to it being recapitalized, with Charter Communications, Qurate and Cerberus Funds making a $204 million investment in January 2021. 

Comscore expects the restructuring to be complete in the fourth quarter of 2023. ■

FreeWheel, Comcast’s ad-tech company, and Comscore said they were upping their contextual targeting game.

FreeWheel’s Beeswax demand-side platform will have access to Comscore’s Predictive Audiences and CTV brand protection capabilities, enabling advertisers to reach the right viewers in a privacy-respecting way.

“This launch signifies a significant step forward for CTV advertising, as we continue to work alongside key industry partners to make programmatic CTV buying a more flexible, scalable and effective experience,” said Soo Jin Oh, chief strategy officer, FreeWheel. “Comscore has the technology, profile data, and scale that Beeswax clients need to target their audiences within relevant content on premium CTV inventory. And, with these capabilities built directly into the Beeswax platform, it’s now easier than ever for buyers to connect with their desired audiences in a brand safe environment.”

FreeWheel will continue developing solutions and building partnerships to optimize the experience for Beeswax users, including those focusing on CTV buying.

Comscore’s contextual engine offers 1,7000 predictive audiences and gauges content suitability and brand safety risk. Beeswax users can customize settings for each campaign.

“In today’s landscape, the industry calls for a cohesive way for advertisers to reach their target audiences at scale across all screens,” Rachel Gantz, general manager, activation solutions at Comscore, said. “We are confident that with FreeWheel’s state-of-the-art technology and Comscore’s innovative CTV brand safety and unique-to-market Predictive Audiences, we will both be able to better support our clients in achieving campaign KPIs.” ■

Media agency Dentsu said it will shift its local TV buying to a Comscore-based currency, which will allow it to make transaction based on advanced audiences in all 210 markets.

Dentsu media buying units include Carat, Dentsu X and iProspect. Dentsu reached an agreement to use Comscore for local TV measurement in February. 

Dentsu and Comscore will conduct test buys for two clients in top 10 local markets based on impressions delivered to advanced audiences. The audiences will be built using dentsu’s M1 platform. The buys will be planned and then go live in early 2023.

A bigger rollout across more markets is expected next year. All major broadcast stations in the markets and local cable inventory will also participate in these buys, Comscore and Dentsu said.

The TV business has been looking at alternatives to Nielsen, long the dominant player in the audience measurement business. Several companies using big data are vying to be used as currency for national buys; Comscore is the top challenger for local TV. 

“At Dentsu we pride ourselves on knowing people better than anyone else and have been at the forefront of unlocking new ways to create addressable, audience-first solutions across media environments. For too long, our local TV buyers have been unable to reap the benefits of advances in data-driven buying,” said Jennifer Hungerbuhler, executive VP, local & audio investment, Dentsu Media U.S. “As we look to what’s next in media, the scale and stability of Comscore’s local TV dataset, coupled with the power of Dentsu’s M1 audience intelligence platform, enable new opportunities for us to precisely transact on the audiences that matter most to our clients and drive value in every market.”

Comscore has been engaged in a two-year proof-of-concept project designed to test its ability to be used as a local buying currency. The test was led by Kathryn Roganti, senior VP, commercial at Comscore and Karine McMaster, VP, advanced media, local investment at Dentsu Media U.S.

“Comscore has a long history of innovating the way media is bought and sold, and we are proud to partner with Dentsu as they break new ground in the local media industry,” said Carol Hinnant, chief revenue officer, Comscore. “This test will demonstrate that advancements in how local media is transacted are not only possible but necessary.”  ■

Comscore said that it made a deal with Fox Television Stations in which the stations will use Comscore-based currency to transact advanced audience advertising deals.

Financial terms were not disclosed.

“Over the last six years, the number of reportable Comscore households across Fox Television Station’s markets have grown by 84% to 13.6 MM homes,” said Tom Fleming, senior VP of Station Sales, Fox Television Stations. “By partnering with Comscore for local TV measurement, FTS can now use significantly larger data sets and even more precision to ensure that linear advertisers are strategically paired with their consumers.”

Comscore’s currency is creating using big data to get viewership information and combining that with households-level consumer and demographic behavior data.

Also Read: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

“Because local television audiences have more choices than ever, measurement must evolve to include larger data sets,“ said Chad Roscher, VP, Research, Fox Television Stations. “As such, Fox Television Stations is excited to partner with Comscore for local TV measurement, which incorporates millions of data points from key video providers.”

Also Read: Comscore Consumer Intelligence To Be Used By Sinclair Station Group

Comscore is one of the media companies looking to provide media companies and media buyers with an alternative to Nielsen. Comscore’s local media business has been picking up station clients for several years.

“Comscore has a long history of innovating the way media is bought and sold, and we are proud to partner with FTS to bring increased value to their expansive footprint,” said Carol Hinnant, Chief Revenue Officer, Comscore. “FTS is getting ahead of the pack to ensure their advertisers have access to the most advanced offerings that local TV can provide.”  ■

Comscore, announcing a series of top-management appointments under new CEO Jon Carpenter, said that Chris Wilson, the company’s chief commercial officer, will be leaving the measurement company.

Two executives who were with Sharablee when it was acquired by Comscore in 2021, were given top posts at the company Greg Dale, who was with Comscore from 1999 to 2016 before joining Shareablee as COO, was named COO of Comscore. Carpenter was CFO of Comscore before being promoted succeed Bill Livek as CEO in July, was also effectively serving as COO.

Jon Lieberman, who was chief technology officer of Shareablee, becomes CTO of Comscore.

Comscore also said that Dr. David Algranati, currently chief product officer, will become chief innovation officer. 

Also: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

“Comscore is highly focused on delivering currency grade solutions across linear and digital platforms while driving profitable growth,” said Carpenter. 

“The changes we are announcing today are reflective of the way we intend to operate going forward, driving discipline, focus, and innovation so that we can meet – or exceed – our customers’ needs for best-in-class solutions that drive outcomes for our clients. David, Greg and Jon have significant experience leading through periods of growth and innovation and have a deep understanding of our industry and the needs of our clients. I am looking forward to working alongside them, and the rest of the leadership team, to deliver success for our employees, customers and shareholders.”

Carpenter thanked Wilson for his time at Comscore. Wilson, with Retrak when it merged with Comscore, helped build the company’s local TV measurement business. “Chris was responsible for many of the partnerships and customer engagements that are core to our success today,” Carpenter noted. 

With Wilson out, chief revenue officer Carol Hinnant and executive VP digital and CMO Tania Yuki will report directly to Carpenter.

“I want to thank Comscore for allowing me to be part of a company that represents the future of media measurement, and I am very grateful to have been part of it,” Wilson said. “As I move on to my next endeavor, I look forward to watching Comscore transform the media landscape.”

Dale, the new COO will report to Carpenter. During his previous stint with Comscore he held posts including COO, chief technology officer and executive VP for international sales.

Before joining Sharablee, LIeberman worked at companies including Advanced Motion Technologies, OpenSlate, RapidRatings, and InfiniteAgent. 

Algranati joined Comscore in 2011. As chief innovation officer, he  will lead the company’s efforts to deliver best in class cross platform products across ad measurement, content measurement, and planning solutions to help solve some of the most complex problems for the industry, the company said. ■

Comscore said it reduced its second-quarter net loss as revenues rose 4.3%.

The measurement company lost $5.1 million, or 10 cents a share, in the quarter, compared to $87.7 million, or 28 cents, a year ago. Adjusted earnings before interest, taxes, depreciation and amortization was $6.5 million, up from $2.6 million. 

Revenue was $91.4 million, up from $87.7 million.

Comscore said its  cross-platform solutions revenue grew 13.2% to $39.8 million as it increased its local and national TV measurement business, and its movie business continued to rebound from the pandemic.

Also: New Comscore CEO Jon Carpenter Rushing To Bring Clients Data Faster

Digital ad solutions revenue slid 1.7% to $51.6 million because of slower ad spending, the company said.

“This is a critical time for the industry and we are committed and focused on delivering innovative products and solutions that our customers want and driving the growth and profitability our shareholders expect,” said Comscore’s new CEO Jon Carpenter. “The quarter highlights the momentum in our business, particularly in Cross Platform Solutions, which includes our growing local and national television businesses. While there is still work to be done, I am excited and energized about the opportunity ahead.” ■

Comscore said it made a deal with Sinclair Broadcast Group, whose ad sales force will use Comscore Consumer Intelligence.

Commerce Consumer Intelligence integrates Comscores' local linear and digital search data with real-time shopper insights from Consumer Orbit.

Also: Media Agency Horizon To Test Comscore Data as Local Ad Currency

Sinclair signed a multi-year renewal with Nielsen in 2020. The deal covered Sinclair’s stations, regional sports networks, Tennis Channel and Sinclair’s digital broadcast channels. In addition to local TV ratings, Nielsen proved Nielsen Scarborough and other data services.

Sinclair had planned to switch from Nielsen to Comscore, but instead re-upped with Nielsen at the time.

Also: Comcast To Use Comscore Data To Sell Local Cable Ads

“Comscore has supplemented its local television currency with a consumer-focused, rather than demographic focused offering that provides in-market consumer shopping behavior. This allows television to more effectively compete with digital giants that have siphoned media dollars from television,” said Carol Hinnant, chief revenue officer, Comscore. “We are excited to be partnered with Consumer Orbit to bring this innovated offering to market.”

Comscore said CCI delivers a cross-platform comparison of local television and digital audience consumption, allowing both sell- and buy-side clients to match impressions delivered by linear and digital partners with actual customers and consumers in their pre-purchase shopping cycle.

CCI’s shopping intelligence data is updated monthly and based on latent, observed and deterministically collected consumer engagements, not small samples of self-reported behavior.

Also: NBCU Recognizes More Measurement Companies as Nielsen Alternatives

“CCI provides information that unifies audiences across platforms so that a single definition of the customer can be presented to our clients, rather than mixed targets across multiple silos,” said Jay Huckabay, president and CEO of Consumer Orbit. “This will drive both efficiency and effectiveness in advertising, yielding more successful results for both the buy and sell side.” ■

Comscore‘s new CEO, Jon Carpenter, is moving quickly to speed up the way Comscore delivers its audience data to clients.

In an interview, Carpenter told Broadcasting+Cable that during his eight months at the company, clients he spoke to dinged Comscore for how slowly it processes and distributes its data. It was their biggest complaint.

In the race to provide an alternative to Nielsen, iSpot.TV turns around linear viewing in 24 hours and cross-platform viewing in 48 hours. ”That’s the high water mark,” said one industry source, noting that iSpot’s measurement is based on automated content recognition data from smart TVs.

Comscore takes about nine days to turn around its data. “They came in through the set-top-box, which makes them very slow,” the source said.

Carpenter said speed is a priority and that he expects to be able to get Comscore’s reporting schedule down to 48 hours by the end of the year.

“We’ve got what I consider the hard part figured out, which is the completeness of our offering, the methodology, the IP, if you will, around how to do measurement at scale,” Carpenter said. “We’ll figure out speed and when we do, we’re going to be a really attractive player in the space.”

When Carpenter was named earlier this month to succeed Bill Livek as Comscore’s CEO, some in the industry saw the decision to elevate the company’s CFO as a sign that the company’s board was more interested in counting dollars than counting viewers.

“I think it does send a clear signal to the industry,” said Jed Meyer, senior VP, media domain leader at Kantar, which in some areas competes with Comscore. “He’s not a product guy. He’s not a research guy. He’s not a client guy. He’s a financial person. You can read into that, right?”

Meyer, who has worked at Nielsen, at TV networks and media agencies, said the industry needs strong third-party measurement providers. ”If this means Comscore’s committed to reinvigorating and investing in their platforms and going to market, I think the market would be receptive to that. From a friendly competitor point of view, I hope it’s a good development.” 

Needham & Co. senior media and internet analyst Laura Martin said she thought Carpenter had been hired as an heir apparent to Livek. She said Comscore’s owners, including Charter Communications and John Malone’s Qurate, didn’t necessarily want a visionary running the company.

Focus on Fiscal Health

“I think the owners know what they want, which is to make sure this is a healthy company that measures local” market television viewing, she said. There have been complaints about the way Nielsen measures local TV and Comscore has made inroads with TV stations and cable operators.

Also: Comcast To Use Comscore Data To Sell Local Cable Ads

“The owners are trying to protect the billions of dollars of ad revenue” they generate in local markets, including the smaller local markets.

Putting a CFO in charge could signal plans to sell assets, or the entire company, but Martin didn’t think there was anyone in line to acquire Comscore, which has solicited buyers as it reviewed its strategic options in recent years.

Carpenter declined to comment on potential merger and acquisition activity beyond noting that publicly held companies are also ways for sale.

After issues in its financial statements led to a reaudit, executive changes and fraud charges that dogged the company for four years, Comscore recapitalized and reduced its debt when Charter, Quarate and Cerberus invested $204 million in the company in January 2021.

“One of the reasons why I took their job is I like the recapitalization that was done,“ Carpeneter said. “These are shareholders that are in it for the long term and you know, that’s what makes my day to day attractive is because they’re willing to lean in on the strategy and see this company succeed.” 

The new CEO is also seen by some as more than a bean counter. Carpenter said that while he was hired as CFO, the position Comscore was looking to fill was “effectively a combination of COO and CFO,” he said. In his finance career, he said, he had increasingly taken on operator roles, particularly in his previous job at Publishers Clearing House.

Carpenter said he sees himself bringing an operational focus and discipline to Comscore as the media industry more actively seeks alternatives to Nielsen. He said that the pandemic created more openness to change that Comscore could take advantage of.

“We’ve got a real opportunity, given the assets and the completeness of those assets that we have, to win in an environment that is likely not to be dominated by one single currency, but by a couple of players,“ he said. ”I like our position in that market environment.” 

Comscore’s strongest assets are its local and addressable measurement products, observers noted. Its local measurement was recently certified as an alternative to Nielsen by NBCUniversal and is being tested as ad buying currency by Horizon Media.

“We’ve got a lot of really good momentum that Bill and the team have built over the last couple of years,” Carpenter said. “We’re excited about the local offering and what It ultimately means for our ability to deliver cross-platform more broadly to national clients.”

Lots of Competition

Comscore, which has played second fiddle to Nielsen for years, now also faces competition from newer, hotter startups, including iSpot.tv and VideoAmp, which have raised money from inventors to build their business while Comscore was repaying debts.

iSpot.tv recently received a $325 million investment from Goldman Sachs, an amount that dwarfs Comscore’s market cap of about $175 million.

“I've got no concerns around our ability to command liquidity to drive the strategic direction of this company forward,“ Carpenter said. “I like the operating model going forward a lot better than some of these players who raised attractive money at a time when the market was frothy. I like how we’re positioned.”

To compete, Comscore will have to retain its top TV executives who had been loyal to Livek. Carpenter said there have been no changes in the company’s senior management team since he was elevated. 

Comscore is also rebuilding its digital products, incorporating technology and personnel from social-media specialist Sharablee, which it bought last year for $45 million.

In the current upfront market, Comscore’s data is being tested as a potential currency by several media companies and buying agencies. Close to 100 advertisers used Comscore data to buy advanced targets, one source indicated.

Carpenter didn’t want to share details about how Comscore did in the upfront, but said “we were up there with the other player being vetted. I think this is a scenario were there are multiple currencies going forward. I really like our positioning.” ■

Comscore’s new CEO, Jonathan Carpenter, will receive an annual salary of $600,000, according to a filing with the Securities and Exchange Commission.

Carpenter was named this week to succeed Bill Livek who in February announced plans to retire as CEO. Carpenter is eligible to get short-term incentives equal to 100% of his salary on a prorated basis this year. He was also granted 400,000 restricted stock units

Livek’s salary for 2021 was $650,000, up from $528,125 in 2020. He also got stock awards worth $991,140 and other benefits adding up to total compensation of $2.15 million.

When Carpenter joined Comscore last year from Publishers Clearing House, he was given a base salary of $515,000 a year with a target short-term incentive paying equal to 100% of his base salary. He also received a one-time cash signing bonus of $300,000 and was granted $1.6 million in restricted stock units.

Comscore also promoted Mary Margaret Curry from chief accounting officer to CFO. Her new base salary is $375,000 and she is eligible for short-term incentives equal to 75% of her base salary She also received 110,000 restricted stock units. ■

Measurement company Comscore promoted its CFO, Jon Carpenter to CEO, succeeding Bill Livek, who announced plans to retire earlier this year.

At the same time, former GroupM chairman Irwin Gotlieb said he was leaving Comscore’s board. GroupM was an investor in Comscore, a competitor to Nielsen.

In a filing with the Securities and Exchange Commission, Comscore said Gotlieb’s resignation was “not as a result of any disagreement with the company known to an executive officer of the company on any matter relating to the company’s operations, practices or policies.”

Comscore also named Nana Banerjee nonexecutive chairman. Banerjee had been on the board since March 2021. Banerjee succeeds Brent Rosenthal, chairman since 2018, who continues as lead director. Mary Margaret Curry was promoted to CFO and treasurer. She had been chief accounting officer.

The changes come at a time when the media industry is looking for alternatives to Nielsen and measurement companies are racing to create better ways to measure an increasingly complex video ecosystem.

Comscore is one of the companies whose data is being tested as possible currency for buying and selling advertising by companies including Paramount and Warner Bros. Discovery. Horizon Media is also testing Comscore data to see if it can be used as currency for local TV ad buys. 

After a three-year period in which it had to dig its way out from a re-audit resulting from issues found in its financial reports that led to fraud charges, management turnover, falling revenue and losses, Comscore recapitalized early last year, drawing investments from Charter Communications, Qurate and Cerberus Funds that wiped out its debt.

Before becoming Comscore’s CFO in November 2021, Carpenter had been with NBCUniversal, Nielsen and Publishers Clearing House. He worked for Sears Holdings and started his career at General Electric.

“Jon’s strong operational focus, strategic acumen, and experience driving both growth and profitability are exactly what we need for Comscore’s next chapter,“ Banerjee said. ”In addition to his background in finance, as well as in media and measurement sectors, Jon brings a customer-centric ethos. I am excited for and confident in Comscore’s future under Jon’s leadership. Along with the rest of the board, I am committed to working with Jon and the rest of the management team to help accelerate Comscore’s growth trajectory and achieve its full potential.” ■

Media agency Horizon Media said it is working with Comscore on a test to see if Comscore local TV measurement data can be used as currency while planning and buying local TV commercials.

Comscore would offer local buyers an alternative to Nielsen, which has long dominated the ratings business. Comscore has been able to make inroads in local markets, signing up stations and station groups for its audience measurement services.

TV networks and media buyers have more aggressively been looking for alternatives to Nielsen. Horizon made a pledge that 15% of its deals in the current upfront market would use an alternative to Nielsen as currency. 

While Nielsen’s undercount of national network viewing got a lot of attention last year, the Media Rating Council also found that Nielsen undercounted local viewing during the pandemic. Nielsen local ratings service is not accredited, like its national ratings service.

“Horizon is looking to evaluate Comscore on various elements of the ‘currency’ process. This will range from the efficacy of the planning data and tools to the stability and volatility of the data over time, as well as its usability within the buying process with Strata/Freewheel. We will also be assessing the ability to seamlessly onboard 1st and 3rd party targeting,” said Eric Blankfein, executive VP of CORD, Horizon. “We are encouraged by Comscore’s position on all these elements, enough so to give them the balance of 2022 to test as an alternative local video currency.”

Horizon’s test of Comscore data will have two phases. At first, Comscore’s data will be examined for rigor, stability and viability. Once it passes muster, Horizon said it will conduct a live, in-market test, looking at how well client and brand objectives are met by test plans and buys. 

The live in-market text will also enable Horizon to review the technical and commercial viability of using Comscore local data.

“As brands continue to invest in local media, due to its consumer relevancy and proximity to point of purchase, the need for better reliable measurement has grown with it,” said Carol Hinnant, chief revenue officer at Comscore. “We have worked through a lengthy RFP process with Horizon to substantiate that Comscore is the optimal provider for local currency. Comscore has been the only true local-market currency against the incumbent for more than ten years and we are proud to count Horizon among those looking for a more reliable and innovative alternative. We look forward to continuing through the testing phase and working with Horizon as we continue to advance innovation in local TV measurement.”

Comscore’s national ratings are being reviewed as currency by companies including Paramount and Warner Bros. Discovery. ■

Sell-side advertising platform Magnite said it has certified Comscore, iSpot.TV, Innovid and VideoAmp along with Nielsen as measurement systems that can be used as currency for programmatic buying of connected TV advertising inventory.

“CTV advertising operates on many different currencies today - from self-reported audience impressions to third-party outcome-based guarantees,” said Kristen Williams, senior VP, strategic partnerships at Magnite. 

“Magnite works with a variety of measurement and attribution experts to provide our clients with a range of solutions to transact. Without a standardized form of measurement at play," Williams said. "Magnite’s role as an independent technology platform is to enable easy activation of any measurement solution that brings greater transparency to TV transactions while building trust across our diverse client base.”

Most of the top media companies and the largest media buyers are at least testing how to use data other than Nielsen’s as currency for buying and selling advertising. During the upfront it appears most deals will still be done based on Nielsen, but going forward the industry is expected to accept multiple currencies for making transactions.

“GroupM is testing a number of different currency providers and it’s essential for these solutions to be embedded within existing workflows,” said Bharad Ramesh, executive director, research & investment analytics at GroupM. 

“Magnite’s integrations with a range of providers will help us remain flexible as we evaluate various measurement services for transactional use-cases. Our ability to plan, transact, and optimize interoperably will help us collaborate with supply partners more effectively and deliver better results for our clients,” Ramesh said.  ■

Bill Livek, who announced plans to retire as CEO of Comscore at the end of 2022, bought 600,000 shares of Comscore stock for $1.15 million, according to a filing with the Securities & Exchange Commission.

Livek purchased the shares on May 31 and June 1 for prices between $1.90 and $1.93 a share. He now owns 2.4 million shares of Comscore.

Comscore’s shares were up 12% to $2.17 a share in mid-day trading Thursday, making Livek’s stake worth $5.2 million.

Livek bought $1 million worth of Comscore stock in March, paying between $2.54 and $2.67 per share. The shares traded as high as $5 a share last June.

Livek is making the purchase as a demonstration of his belief that Comscore is going to come out ahead in the measurement and currency battle, based on recent wins and what lies ahead for the company, according to a spokesperson.

Livek joined Comscore when Rentrak was acquired by Comscore in 2016. 

He became CEO in 2019. ■

Comscore cut its losses in the first quarter as its TV measurement business grew.

The company said its first quarter net loss was $9.3 million, or 14 cents a share, compared to a $36 million loss, or 49 cents a share, a year ago.

Adjusted EBITDA rose to $6.8 million from $5.6 million.

Revenues increased 4% to $94 million from $90.3 million a year ago.

Revenues from cross platform solutions rose 9.5% to $40.8 million. That includes $6.8 million in revenue from Comscore’s movie business, which is down from $8.2 million a year ago. 

The company’s digital ad solutions generated $53.1 million in revenue, up 0.2%.

Comscore affirmed its guidance that revenue will increase by mid- to high-single digits for 2022 and that adjusted EBITDA margin will be consistent with last year.

Comscore noted that the Media Rating Council audit of its local and national television measurement products is underway.

"This was another solid quarter of year-over-year growth for Comscore. I am proud of the progress we are making across all our lines of business,” said CEO Bill Livek. 

“As the measurement landscape evolves, Comscore remains focused on delivering superior products that drive the best outcomes for our clients. Throughout the quarter we continued to sign new clients and renewed long-standing currency relationships with industry-leading companies. There continues to be a tremendous opportunity for Comscore as it positions itself as the leading cross-platform currency, which we expect will continue to drive revenue growth throughout 2022,” Livek said. ■

In a March Madness for measurement companies, Turner Sports and CBS Sports brought in iSpot.tv, VideoAmp and Comscore to measure their NCAA men’s basketball tournament coverage.

The three potential alternatives to Nielsen turned up some fresh insights into viewers behavior and trends.

VideoAmp said that 47% of all households watched the tournament. iSpot found that the tournament generated 8.6 times more ad impressions that the No. 2 show, which was Good Morning America.

Also: North Carolina-Duke Draws Most Final Four Viewers Since 2017

Linear and streaming households watched an average of 16.91 games during the tournament.

Because the alternative measurement companies aim to provide cross-platform viewing data, some interesting observations about streaming emerged.

Comscore found that one-third of new households that did not watch in 2019 viewed on streaming platforms during the tournament in 2022.

Linear homes drove most viewing, but home that watch on both streaming and linear significantly over-indexed on time spent, accounting for 19% of total time spent viewing the games, VideoAmp said.

For advertisers, iSpot calculated that the NCAA tournament totaled 1.3 times more impressions than the Olympics. And Comscore said social engagement levels peaked at the beginning of the tournament and then again with the Sweet 15, with 56 million social actions made during the tournament.

Both Paramount, parent of CBS Sports, and Discovery, parent of Turner Sports, are exploring using alternative measurement data as potential currencies in the upfront. Traditionally providing currencies has been Nielsen’s role, but after losing its accreditation from the Media Rating Council, Nielsen is vulnerable to competition as it ramps up its own Nielsen One system for cross-platform measurement of content and advertising.

iSpot performed a similar test for NBCU during last year's Summer Olympics and in the first quarter when NBC air the Olympics and the Super Bowl. ■